Need To Create Salary Band

Hi Seniors,
i need to frame a policy on salary band and the tertiles/quartiles with the minimum and maximum salary band. Please suggest the same
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Regards
Veena

Veena,
To frame the Salary band first you have to define the designation which start from Executive to MD or CEO.
I didn't get the term Tertiles/Quartiles and also let me know the exact details what designation you have in your company and what is the pay as some company offer Rs 9,000/- to fresher as where as some company offers the same to the 1 year exp candiate

Hi,

The levels at our organisation are as follows:

L1 - COO

L2 - VP

L3- DIRECTORS

L4- GM

L5- DGM

L6 - SR.MANAGER

L7 - MANAGER

L8- ASST MANAGER

L9 - SR. EXECUTIVE

L10 - EXECUTIVE

The minimum and maximum salary band have been arrived at by us. For example at L7(Manager) level, the minimum band is 6 lakhs and maximum band is 9 lakhs.

TERTILES ARE THE SUB DIVISION WITHIN THE MIN AND MAX SALARY BAND(WHICH HAS TERTILE 1- HIGHEST AT MAX SALARY BAND SAY 8- 9 LAKHS,

TERTILE 2 - MEDIUM/MID POINT BETWEEN THE MIN AND MAXIMUM SALARY BAND SAY 7 LAKHS.

TERTILE 3 - LOWEST AT THE MIN SALARY BAND SAY 6 LAKHS - 7 LAKHS.



My Requirement:

I need to define these tertiles(values) at each level and the basis on which the employee would grow in the organisation . eg of tertile at L7 level:

if three employees are rated the highest(say 6)rating in the appraisal1 is the least rating and 6 is the highest rating) in the same hierarchy , how does he grow within the band.

Please let me know your contact details so that i can discuss with you on this.

Regards

Veena